Two Pacific Northwest credit unions say they have received final approval for the proposed merger.
TwinStar Credit Union, headquartered in Lacey, WA, will officially merge with Northwest Community Credit Union, headquartered in Eugene, effective June 12th. The two institutes will fully integrate their banking systems by 2024 – and opt for a common name.
The credit unions said the merger received regulatory approval in February. Northwest Community Credit Union members approved the merger in a vote that ended this week.
The credit unions have total assets of more than $4 billion and operate 36 branches in Oregon and Washington, according to the National Credit Union Administration. They employ over 700 people.
TwinStar was founded in 1938 and has its origins in the teachers of Olympia, Washington. The Northwest Community Credit Union was founded in 1949 by employees of the Weyerhaeuser lumber company.